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Ineos Shale: We Won't Drill If We Can't Prove It's Safe
(Friday, February 24, 2017) Onshore UK-focused energy company Ineos Shale confirms it will not drill any of its prospects if it cannot prove that its drilling and aftercare operations will be safe.
Exxon's New Chief Endorses Carbon Tax to Combat Climate Change
(Friday, February 24, 2017) In his first blog post since succeeding Rex Tillerson, the new head of Exxon Mobil Corp. focused on climate change, calling for a carbon tax to discourage use of polluting fuels.
BASF Says Iran Investment in Limbo Amid Uncertainty Over Sanctions
(Friday, February 24, 2017) BASF said it was in talks with Iran over a possible investment of its oil and gas division in the country but no decision was on the cards because of uncertainty over the status of economic sanctions.
EU Ministers 'Bracing for Battle' on Carbon Market Reform
(Friday, February 24, 2017) EU environment ministers are bracing for a tough debate on Tuesday to find a compromise on reforms to the carbon market, EU sources said, with nations split over how to balance climate ambitions with protection for energy-intensive industry.
EU Regulators Set to Clear Dow, DuPont Deal -Sources
(Wednesday, February 22, 2017) Dow Chemical and DuPont are set to win EU antitrust approval for their $130 billion merger, two people familiar with the matter said on Wednesday, one of three mega deals in the agrochemicals industry.
Brazil's Braskem Cuts Capex After Fine Hits Earnings
(Wednesday, February 22, 2017) Brazil's Braskem SA is trimming investments this year as it winds down spending on a new plant in Mexico and cuts back strategic new projects after a bribery settlement hammered earnings last year, according to a Wednesday securities filing.
Taiwan's Formosa Seeks U.S. Permit for $9.4 Billion Investment
(Tuesday, February 21, 2017) Formosa Plastics Group is seeking permission from the U.S. state of Louisiana to invest $9.4 billion to build petrochemical plants.
Russia's Lukoil Says It Sold Its Petrochemical Plant in Ukraine
(Tuesday, February 21, 2017) Russian oil producer Lukoil said in a statement on Tuesday it has completed the sale of its Karpatneftekhim petrochemical plant in western Ukraine.
Japan's Mitsubishi Buys Iran Naphtha Cargo - Sources
(Tuesday, February 21, 2017) The cargo reportedly contains high sulphur, restricting the number of petrochemical makers that can use it.
Clariant CEO Plays Down Speculation of Plastics Unit Sale
(Friday, February 17, 2017) Clariant's Chief Executive Hariolf Kottmann has doused speculation the Swiss speciality chemical maker could soon unload its plastics and coatings business and use the proceeds to buy a big, faster-growing target.
Full Start of India's Reliance Petchem Will Halt Heavy Exports
(Friday, February 17, 2017) The owner of the world's biggest refining complex will halt heavy naphtha exports in 2017/18 after the full-scale start-up of its 2.2 million tonnes per year (tpy) paraxylene plant, four people with knowledge of the matter said.
South Korea's LPG Demand Revives with Switch to Petrochemicals
(Friday, February 17, 2017) U.S. LPG exporters stand to benefit most from the change.
BASF Foam Chemical Plant Suffers Further Setback
(Wednesday, February 15, 2017) BASF's glitch at its plant in Ludwigshafen, Germany might give a boost to competitors such as Bayer's Covestro, Wanhua, Mitsui and Dow Chemical.
Bank of England Says to Stick with Animal-fat Banknotes for Now
(Wednesday, February 15, 2017) The Bank of England said on Wednesday it would keep using trace amounts of animal fat to make new plastic banknotes.
European Parliament Adopts Draft Reform of Carbon Market Post-2020
(Wednesday, February 15, 2017) Politicians and EU nations are divided over how best to fix the complex system, with industry and environment groups lobbying hard on opposing sides.
Saudi Aramco Inks First Oil Contract With China's Huajin
(Monday, February 13, 2017) Saudi Aramco signs a contract with Chinese oil refiner North Huajin Chemical Industries Group Corp to supply crude in 2017.
DuPont Settles Lawsuits Over Teflon-making Chemical Leak
(Monday, February 13, 2017) DuPont and Chemours Co said on Monday they had agreed to pay about $671 million in cash to settle several lawsuits related to the leak of a toxic chemical, used to make Teflon, that has been linked to cancer and other diseases.
White House Defends Move to Curb Regulations
(Wednesday, February 08, 2017) President Trump's executive order does not apply to most of the financial reform rules introduced by the Obama administration or to rules mandated by statutes.
Petrobras Denies Challenging Braskem Accord in U.S. Courts
(Friday, February 03, 2017) Brazil's state-run oil company Petróleo Brasileiro SA on Friday denied a report it is challenging an accord closed by Brazilian petrochemical company Braskem in U.S. courts.
SK Innovation Buys Dow Chemical's Ethylene Acrylic Acid Unit for $370 Mln
(Thursday, February 02, 2017) South Korea's SK Innovation said on Thursday it would acquire Dow Chemical Co's ethylene acrylic acid (EAA) business for $370 million, a move that will expand its range of high value-added chemical products.